Latest news
Oil futures rose on supply cut discussions
Global benchmark Brent crude futures increased on Friday, heading about 8 percent higher so far this week and set for a second weekly gain, stimulated by hopes of an agreement among oil-producing countries to tackle a growing oversupply.
read more... 29/01/2016
Iran to strike its first post-sanction oil supply deal with Greece
The National Iranian Oil Company of Iran inked a deal to supply oil to Greece’s main oil refiner, Hellenic Petroleum, following removal of sanctions.
read more... 25/01/2016
China’s oil consumption hiked 2.5% in 2015 despite economic slowdown
China’s oil consumption bounced 2.5% in 2015 on strong gasoline and kerosene demand, despite a slowing economy and declining demand for other commodities such as coal and steel.
read more... 20/01/2016
Removal of sanctions against Iran could hit oil
U.S. and Europe have finally lifted sanctions on against Teheran on Saturday, move that could shake up oil markets.
read more... 19/01/2016
BP to axe 4,000 jobs in exploration and drilling business amid dramatic slump in oil prices
UK oil giant BP is planning to slash 4,000 jobs internationally due to declining profits as a result of oil price collapse.
read more... 14/01/2016